Last checked at 29 Apr 2020 10:49
Elementis plc
Result of 2020 AGM
The Company's AGM was held today (29 April 2020) at Elementis' head office at Caroline House, 55-57 High Holborn, London, WC1V 6DX and all resolutions proposed were passed on a poll. As announced on 21 April 2020, in light of the Government's 'Stay at Home Measures' to deal with the COVID-19 pandemic which prohibit public gatherings and unnecessary travel and to ensure the safety of employees and shareholders, the Company advised shareholders not to attend the meeting in person.
For information, the following table shows the poll results for the Meeting. The total number of shares in issue (ISC) as at 27 April 2020 was 580,801,241. (Total voting rights: 580,801,241). The percentage figure shown in each column is the percentage of the total number of votes validly cast (under law) for each resolution (i.e. excludes votes withheld).
Resolution | Votes For | % | Votes Against | % | Votes Total | % of ISC voted | Votes Withheld | |
1. | Receive annual report and accounts 2019 | 426,465,925 | 99.67 | 1,425,006 | 0.33 | 427,890,931 | 73.67% | 1,070,269 |
2. | Directors' remuneration report 2019 (excluding Remuneration policy) | 346,742,847 | 90.65 | 35,776,984 | 9.35 | 382,519,831 | 65.86% | 46,441,369 |
3. | To re-elect Andrew Duff | 406,098,938 | 94.68 | 22,812,973 | 5.32 | 428,911,911 | 73.85% | 49,290 |
4. | To re-elect Paul Waterman | 426,122,759 | 99.35 | 2,779,346 | 0.65 | 428,902,105 | 73.85% | 59,096 |
5. | To re-elect Ralph Hewins | 426,079,448 | 99.35 | 2,800,647 | 0.65 | 428,880,095 | 73.84% | 81,106 |
6. | To re-elect Sandra Boss t | 427,042,933 | 99.58 | 1,815,401 | 0.42 | 428,858,334 | 73.84% | 102,867 |
7. | To re-elect Dorothee Deuring | 425,223,461 | 99.57 | 1,818,172 | 0.43 | 427,041,633 | 73.53% | 1,919,568 |
8. | To re-elect Steve Good | 358,175,072 | 93.53 | 24,762,726 | 6.47 | 382,937,798 | 65.93% | 46,023,403 |
9. | To re-elect Anne Hyland | 427,096,812 | 99.59 | 1,752,536 | 0.41 | 428,849,348 | 73.84% | 111,853 |
10. | To elect John O'Higgins | 428,817,234 | 99.98 | 82,964 | 0.02 | 428,900,198 | 73.85% | 61,003 |
11. | Re-appoint Deloitte LLP as Auditors | 428,789,530 | 99.97 | 129,132 | 0.03 | 428,918,662 | 73.85% | 42,539 |
12. | Auditors' remuneration | 428,854,879 | 99.98 | 67,747 | 0.02 | 428,922,626 | 73.85% | 38,575 |
13. | Authority to allot shares | 345,935,254 | 80.65 | 82,998,891 | 19.35 | 428,934,145 | 73.85% | 27,056 |
14. | Authorise political donations | 421,009,834 | 98.16 | 7,886,165 | 1.84 | 428,895,999 | 73.85% | 65,202 |
15. | Hold general meetings at 14 clear days' notice* | 341,448,934 | 79.60 | 87,497,945 | 20.40 | 428,946,879 | 73.85% | 14,322 |
16. | Disapply pre-emption rights* | 428,674,295 | 99.94 | 245,813 | 0.06 | 428,920,108 | 73.85% | 41,093 |
17. | Disapply pre-emption rights for acquisition or capital investment* | 424,726,847 | 99.02 | 4,198,679 | 0.98 | 428,925,526 | 73.85% | 35,674 |
18. | Authority to purchase own shares* | 427,367,215 | 99.65 | 1,485,665 | 0.35 | 428,852,880 | 73.84% | 108,320 |
t As noted in the Company's trading update which was announced prior to the AGM, resolution 6 relating to the re-election of Sandra Boss was withdrawn in connection with Sandra taking up a full time executive role.
* Resolutions 15 to 18 were passed as special resolutions.
We note the significant vote against the shortening of the notice period for calling general meetings to 14 days, which was opposed by a small number of shareholders. We will continue to consult with shareholders who did not vote in favour of this resolution to understand their reasons and will provide an update within six months as required by the UK Corporate Governance Code. The Company continues to maintain that having the flexibility to call general meetings on short notice is, in certain circumstances, of benefit to shareholders.
Directorate changes
As previously announced, Nick Salmon has now retired from the Board at the conclusion of the AGM. Following the Company's trading update which was announced prior to the AGM, resolution 6 relating to the re-election of Sandra Boss was withdrawn in connection with Sandra taking up a full time executive role. Consequently, Sandra Boss has also retired from the Board at the conclusion of the AGM.
In accordance with Listing Rule 9.6, copies of the resolutions, designated as being special business, passed at the AGM will be submitted to the National Storage Mechanism and will be available shortly for inspection at: www.morningstar.co.uk/uk/NSM
These voting results will also be available on the Company's website at https://www.elementis.com/agm-information/
later this afternoon.
Laura Higgins
Company Secretary
0207 067 2999